By By Sahil Pandey

New Delhi [India], May 22 (ANI): India and Cyprus are exploring a new blueprint to kickstart the India-Middle East-Europe Economic Corridor (IMEC), aiming to build its initial blocks from the Mediterranean by linking India with Cyprus, Greece, and Italy, a Cypriot official said.

The dynamic corridor, envisioned as a foundational pillar for a new economic and trade security architecture in the region, emerged as a key focal point during bilateral discussions between the two nations.

'We had extensive discussions on IMEC. We agree that we need to start the building blocks in order for IMEC to be realised,' the Cypriot official stated. 'We believe that we should start from the Mediterranean and explore the possibility of Greece, Cyprus, Italy, and India. IMEC can be the base for a new economic trade security architecture in the region.'

The official emphasised that the corridor will operate on a 'positive agenda' where countries sharing the same values and principles can join.

Following Prime Minister Narendra Modi's visit to Cyprus last year, the traditionally excellent bilateral relations have been elevated to a strategic level. Nicosia is now strongly positioning itself as a strategic gateway for Indian industry and technological prowess into the European market.

'Following the EU-India trade agreement in January, we are logically expecting a huge volume of Indian exports to Europe. Giving a CE certificate to Indian goods is part of where Cyprus can act and can really help,' the official said, adding that Indian companies investing in Cyprus will gain unhindered access to the broader European market across multiple sectors.

The official also hailed India as a global powerhouse, setting standards for public digital infrastructure and building massive AI ecosystems.

'Cyprus can be that hub and gateway into Europe where you can test those technologies and where India can take the leap to expand and export those technologies to Europe,' the official noted.

On the dynamic Free Trade Agreement (FTA), the official remarked that the legal frameworks are being expedited. 'Our presidency started with the announcement of the free trade agreement in January, and we are working to prepare all the commissions and India to prepare all legal documents in order for the agreement to be signed as soon as possible.'

In a significant shift towards hard security cooperation, Cyprus has expressed keen interest in procuring military hardware from the Indian defence industry to enhance its military capabilities, backed by a dedicated budget of 1.2 billion euros.

'First sector is defence. We are interested in buying from the Indian defence industry and our defence industries working together. Cyprus is eligible for 1.2 billion euros, and we are interested in enhancing our military capabilities and exploring the possibilities of buying from India,' the official revealed.

Acknowledging India's operational readiness and geopolitical challenges, the official noted that Nicosia closely monitors regional security dynamics, including India's responses to cross-border incidents involving Pakistan.

'We know very well India's capabilities. In very specific sectors, India can provide a number of pieces of military equipment that we want. You tested them in a real situation,' the official added, noting that Turkey was also discussed within the context of regional developments.

To bolster connectivity and people-to-people ties, the Cypriot side has initiated high-level talks with major Indian carriers, including Air India and IndiGo, to establish direct air links.

'There is an interest from both companies, and we hope that by the end of the year it will be possible to start direct flights,' the official stated.

Furthermore, India's Unified Payments Interface (UPI) is set to debut in the Mediterranean nation by next year through Eurobank, which recently opened its representative office in Mumbai.

'This bank is working to use a system from Cyprus from next year called UPI. So Indians in Cyprus can use this system, and I think by next year we will be in a position for non-Indian citizens to use this system as well.'

To support this multi-sectoral expansion, Cyprus has decided to deploy more diplomats to its High Commission in New Delhi.

Pointing out the global body's inability to effectively manage international conflicts, such as the crises in Ukraine and Iran, the Cypriot official strongly backed India's permanent membership at the United Nations Security Council (UNSC).

'We really believe that the UN needs to be reformed. We don't see the UN playing, actually, any role in those international crises, and the UN system for us is necessary to include India as a permanent member of the Security Council. We are going to raise this with our colleagues in the European Union,' the official asserted.

In a boost to cultural diplomacy, the official announced that the first-ever Bollywood movie to be shot in Cyprus will commence filming this June. Titled Ishqaa, the film is scheduled to hit theatres next year on Valentine's Day, February 14. (ANI)